SSR Mining (NASDAQ:SSRM) Cut to Buy at Wall Street Zen

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Friday.

A number of other equities analysts have also commented on SSRM. National Bankshares reissued a "sector perform" rating on shares of SSR Mining in a research note on Wednesday, April 23rd. Cormark raised shares of SSR Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 22nd. UBS Group increased their price objective on shares of SSR Mining from $12.10 to $12.35 and gave the stock a "buy" rating in a report on Friday, April 11th. CIBC increased their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, National Bank Financial raised shares of SSR Mining to a "hold" rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.03.

SSR Mining Stock Performance

SSR Mining stock traded up $0.05 on Friday, hitting $12.79. The company's stock had a trading volume of 2,416,666 shares, compared to its average volume of 2,622,523. SSR Mining has a one year low of $4.32 and a one year high of $13.33. The firm has a market cap of $2.59 billion, a P/E ratio of -9.91, a price-to-earnings-growth ratio of 0.37 and a beta of -0.13. The company has a fifty day moving average price of $10.88 and a 200-day moving average price of $9.30. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM - Get Free Report) TSE: SSO last posted its earnings results on Tuesday, May 6th. The basic materials company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.21. SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $332.64 million. On average, equities analysts anticipate that SSR Mining will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSRM. Nuveen LLC bought a new position in shares of SSR Mining in the 1st quarter valued at about $18,759,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SSR Mining by 21.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,079,816 shares of the basic materials company's stock valued at $70,265,000 after purchasing an additional 1,802,821 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of SSR Mining by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 3,671,138 shares of the basic materials company's stock valued at $25,551,000 after purchasing an additional 1,285,347 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of SSR Mining by 921.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,013,320 shares of the basic materials company's stock valued at $10,164,000 after purchasing an additional 914,084 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SSR Mining by 413.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 930,200 shares of the basic materials company's stock valued at $9,323,000 after purchasing an additional 748,900 shares during the last quarter. Institutional investors own 68.30% of the company's stock.

SSR Mining Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.